Peter Thiel’s $5 billon tax-free account spurred a new 401(k) rule that now impacts high-earning Americans over 50

A fund group is urging for clearer regulations regarding the inclusion of private assets in US 401(k) retirement plans. This call for clarity is significant as it could impact how individuals save for retirement and the types of investments available to them, potentially leading to more diverse portfolios and better financial outcomes.

A recent study reveals that 80% of millennials and Gen Z who sought financial advice from AI found it beneficial, marking a significant shift in how young people manage their finances. This trend highlights the growing reliance on technology for financial decisions, as traditional sources like parents are being replaced by AI tools. However, the study also warns that over half of these users made poor decisions based on the advice they received, emphasizing the need for caution and critical thinking when using AI for financial guidance.

High earners aged 50 and older are facing a significant change as the option to make pretax catch-up contributions to their 401(k) plans is set to disappear for some. This shift could impact their retirement savings strategy, making it harder for them to maximize their contributions and potentially affecting their financial security in retirement. It's crucial for these individuals to stay informed and consider alternative savings options.

If you're worried that your 401(k) isn't enough for a comfortable retirement, you're not alone. Many people are looking for ways to boost their savings and make smarter investment choices. This article offers practical tips on how to contribute more to your retirement fund, reduce fees, and explore alternative investment options. By taking these steps, you can enhance your financial security and ensure a more stable future.

Roth/MKM has significantly raised its price target for Iris Energy from $35 to $82, driven by the company's promising growth in the AI cloud sector. This adjustment reflects strong confidence in Iris Energy's potential to capitalize on the increasing demand for AI-driven solutions, making it a noteworthy player in the tech landscape. Investors should take note of this optimistic outlook as it could signal a lucrative opportunity in the rapidly evolving market.

Jacq Tatelman, the CEO of State Bags, reflects on the company's origins and its mission to support children in need during the back-to-school season. Inspired by her experiences running a nonprofit camp in Brooklyn, Tatelman emphasizes the importance of providing quality backpacks to kids who often arrive at school with inadequate supplies. For every bag sold, State Bags donates one to an American child in need, making a significant impact in communities. This initiative not only helps students but also raises awareness about the challenges faced by many families, highlighting the importance of social responsibility in business.

A US judge has preliminarily approved a significant $1.5 billion settlement regarding copyright issues involving Anthropic, a leading AI company. This decision is crucial as it not only resolves ongoing legal disputes but also sets a precedent for how copyright laws may adapt to the rapidly evolving tech landscape. The settlement reflects a growing recognition of the importance of intellectual property rights in the AI sector, which could encourage innovation while ensuring creators are protected.

In a recent statement, Trump has urged Turkey to reconsider its dealings with Russian oil, suggesting that he might lift sanctions if Turkey complies. This development is significant as it could reshape U.S.-Turkey relations and impact global oil markets, especially given the ongoing tensions surrounding Russia's actions. The potential easing of sanctions could also influence Turkey's economic landscape and its strategic partnerships.

The top Wall Street regulator has announced plans to review the White House's request for companies to submit layoff plans. This move is significant as it reflects the administration's concern over potential job losses and aims to ensure that companies are prepared for any necessary workforce adjustments. By examining these plans, the regulator hopes to maintain stability in the job market and provide guidance to businesses during uncertain economic times.

Ross, the CEO of American Rebel Holdings, has sold $182,000 worth of stock, which raises questions about the company's future direction. While stock sales by executives can sometimes indicate a lack of confidence in the company's prospects, they can also be part of personal financial planning. This sale is noteworthy as it reflects the ongoing dynamics within the company and the market.

Anne Walsh, the chief investment officer at Guggenheim Partners, discusses the potential for rate cuts in the current economic climate during an interview on 'The Close.' She emphasizes that while there is room for cuts, they may not be the most effective tool at this stage. This conversation is significant as it highlights the ongoing debate about monetary policy and its impact on inflation, especially in light of recent economic trends.